S&P assigns Cemat B-

Standard & Poor's said it assigned its B- foreign and local currency corporate credit rating to Centrais Elétricas Matogrossenses SA (Cemat) in its global scale. The outlook is stable.

S&P said the ratings on Cemat reflect risks that include high refinancing risk due to the short debt profile and limited financial flexibility as the company has a significant amount of short-term maturities.

The agency added the risks are partially offset by the lack of competition risks as Cemat has the exclusive right to distribute energy in its concession area, consisting of 140 municipalities with a customer profile largely based on residential and commercial segments.

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